Coinbase confirms upcoming support Moving DAI to USDSThis is an important step in the transition to one of DeFi’s most widely used stablecoins.
According to the exchange, the conversion will occur between the following dates: May 4 and May 6, 2026. User balances will automatically move from DAI to USDS at a ratio of approximately 1:1.
This move reflects a broader overhaul of the Maker ecosystem. MakerDAO continues its transition towards the rebranded “Sky” framework and next-generation stablecoin infrastructure.
Sky also announced a few days ago that other major exchanges such as Binance will also support the migration.
Coinbase details migration timeline and restrictions
Ahead of the conversion window, Coinbase said DAI trading has currently been moved to limit-only mode, with further restrictions to follow.
- Trading will be completely disabled on: May 4
- Deposits and withdrawals will be paused between the following dates: 4 and 6 May
- All eligible balances will be automatically converted at no charge
However, the stock market allows users some European Economic Area (EEA) jurisdictions will not be included in the transition.
DAI switches to USDS as part of Sky ecosystem overhaul
The transition is part of MakerDAO’s broader transformation into the Sky ecosystem, introducing USDS as its successor stablecoin.
While USDS remains pegged 1:1 to the US dollar and remains collateral-backed, this shift represents a structural evolution in the functioning of the protocol.
Long considered one of the core assets of DeFi, DAI played a central role in early decentralized finance by providing a crypto-collateralized alternative to centralized stablecoins.
The move to USDS marks a new phase in which the protocol adapts its design and infrastructure to remain competitive in a more mature and regulated market environment.
Market data shows that migration is already continuing
Latest data shows that the transition is not only planned, but is happening at scale.
USDS currently has a market cap of over $11 billionwith circulating supply closely matching total supply. This shows that liquidity is already permeating the ecosystem.
Trading activity has also increased, with daily volume rising sharply in recent sessions. This indicates active migration flows and increased usage as users move from DAI to the new token.
Despite the change, USDS maintained a stable peg around $1, indicating that the transition occurred without immediately disrupting price stability.
Final Summary
- Coinbase’s support for the transition from DAI to USDS indicates that the transition has entered an implementation phase and exchanges have begun coordinated conversions.
- Market data shows that USDS is already operating at scale, reinforcing that the transition from DAI is actively underway rather than theoretical.
